How will the higher tax rate impact the solar power sector?

How will the higher tax rate impact the solar power sector?

A day after the Goods and Services Tax (GST) Council, following its three-day meeting in Srinagar finalised a tax rate of 18 per for solar modules, independent experts gave a mixed bag of reactions to the move.

Power, coal, mines and renewable energy minister Piyush Goyal had on Friday said the 18 per cent rate for solar will not impact the solar power tariffs. “Tariffs for solar projects vary from project to project. The rise will be compensated by the decline in corruption and operational difficulties,” Goyal said at a media conference. He added the prices of solar and wind energy have hit record low and the industry is now able to stand on its own feet without any support. Read More…

 

Credit By : ET Energy World

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